HomeStreet Receives Approval from Federal Reserve Bank of San Francisco to Make TruPS Interest Payments

HomeStreet HMST (“the Company”) announced today that on March 12, 2013, it received approval from the Federal Reserve Bank of San Francisco to pay all past-deferred interest due on its outstanding Trust Preferred Securities (TruPS) and to make the TruPS interest payment due on March 15, 2013. The March 15, 2013 net payment of $13.5 million on deferred and current interest lifts the restrictions under the terms of the TruPS indentures, which prohibited the Company from making cash dividends or distributions to shareholders if the TruPS interest is not paid current. The Company remains under a regulatory order which restricts it from making cash dividends or other capital distributions without regulatory See full press release